Constantinou Bros Hotels Public Company LTD

Earnings Release • Feb 28, 2013

Indicative results of Constantinou Bros Hotels Public Company Ltd Group for the year ended December 31, 2012, under the obligation to disclose the Indicative Results, in conformity with Article 13 of the Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Laws of 2007 and 2009:

Indicative results for the year ended December 31, 2012

	Year ended December 31 2012 (Unaudited)	Year ended December 31 2011 (Audited)
Loss after taxation	(€1.569.046)	(€3.839.966)
Loss per share	(0,98 cents)	( 2,39 cents )

Notes:

• 1. The financial results for the year ended 31 December 2012 have not been audited by the Company's external auditors.
• 1. The accounting policies adopted are consistent with the International Financial Reporting Standards and are the same as those applied in the preparation of annual financial statements

INCOME

The income from the operations of the Company for the year 2012 showed an increase at the region of 16% from the previous year. Specifically, they amounted to € 27.641.271 for the year 2012 compared to € 23.771.809 in 2011.

This increase is primarily due to the upgrading of the Group's hotels.

Operating profit amounted to € 5.933 million compared to € 2.415 million in 2011, resulting in an increase at 146%. The increase is mainly due to rising of the income of the Group hotels

Profit / Loss after tax

As a result of the factors presented above, the Group shows a loss after tax for the year 2012 at €1.569.046 compared to a loss of € 3.839.966 for the year 2011.

The loss is attributed to the increased property tax and increased funding costs.

The basic and fully distributed loss per share was calculated based on the weighted average number of shares outstanding during the above periods, amounting to 160,714,286 shares of a nominal value of 34 cents each..

Prospects of the Group

The Board and Management of the Company, taking into account the negative impact of the ongoing economic crisis has adopted specific measures to substantially increase revenues and maintain liquidity in order to remain competitive and maintain its ability to meet all of its obligations.

The Board believes that it is difficult to predict the financial results for the year because it believes that 2013 will be another difficult year, but all actions and efforts are aiming at improved results for 2013 compared with 2012.